Ascent Resources Utica Holdings’ $600 Million Unsecured Notes


Kirkland & Ellis LLP represented Ascent Resources Utica Holdings, LLC in its private offering of $600 million in senior unsecured notes due 2026.


The purpose of the transaction is to fund the redemption of Ascent’s outstanding senior notes due 2022 and repay borrowings under its credit facility.

Ascent is a leading private exploration and production company focused on acquiring, exploring for, developing, producing and operating natural gas and oil properties in the Utica Shale. Ascent is capitalized with equity investments from various private equity sponsors, led by funds managed by The Energy & Minerals Group and First Reserve Corporation.

Kirkland advised Ascent with a team including capital markets partner Matt Pacey (Picture) and associates Bryan Flannery, Caleb Lowery, Kate Cavanaugh and Andrew Allen; tax partner Mark Dundon and associate Tim Campany; employee benefits of counsel Christine Matott; and environmental transactions partner Paul Tanaka and associate Maureen Stringham.

Involved fees earner: Matthew Pacey – Kirkland & Ellis; Bryan Flannery – Kirkland & Ellis; Caleb Lowery – Kirkland & Ellis; Kate Cavanaugh – Kirkland & Ellis; Mark Dundon – Kirkland & Ellis; Timothy Campany – Kirkland & Ellis; Christine Matott – Kirkland & Ellis; Paul Tanaka – Kirkland & Ellis;

Law Firms: Kirkland & Ellis;

Clients: Ascent Resources Utica Holdings;